Monday, 11 October 2010

10 Celebrity Backed Start Ups


Consiglieri

Steve Nash
The future Hall of Fame point guard knows how to diversify his portfolio. Besides his production company, sports club and charitable foundation, Nash announced in August he is now aiming to launch Consiglieri, a marketing consultancy and venture capital firm targeting the e-commerce, sports and consumer durables sectors. Consiglieri's backers thus far include Zig Capital and Deutsch Inc. Nash hopes to raise a total war chest of $20 million.

WeMix

Ludacris
Take emerging artists, add a dash of music-mashing, stir in some rap mogul and spread evenly on social media platform. The result: WeMix music network, a 2007 media venture headed by three-time Grammy Award-winning rapper Ludacris and MegaMobile TV founder Chris Apfel. Members of this online community are given the tools to collaborate on beats and encouraged to share ideas with other members. Top-notch performers stand a chance to spit some rhymes with Luda himself.

WePlay

Derek Jeter, LeBron James, Peyton Manning
The youth-sports networking site has an all-world trio of backers. Created to merge the interests of young players, parents and coaches, WePlayincorporates multimedia sharing and community discussion. The stars' collective investment: $8.6 million in 2008.

Foursquare

Ashton Kutcher
Social media darling Ashton Kutcher--famous for routing CNN to become the first person with 1 million Twitter followers--is set to cash in on networking enterprise,Foursquare. Established in 2009, the service combines gaming experience with GPS technology to get people out and about. Users check in via smart phone at registered venues, collecting virtual and real-life credits along the way. Kutcher, an early angel investor in the startup, has helped the company raise $21.4 million to date.

Alchemist Management

MC Hammer
Stanley Burrell, better known as 90s hip-hop sensation MC Hammer, recently announced he is carving out a stake in the world of mixed martial arts (MMA), and he'll do it from a corner office. From sudden bankruptcy to social media resurgenceBurrell signed on in July as CEO of Alchemist Management, an MMA marketing venture.

The Filter

Peter Gabriel
The ever forward-thinking 80s music vanguard is helping to drown out the sound of online flotsam with a new music and entertainment recommendation system. Launched in April 2008 and backed by Gabriel and Eden Ventures (initial investment: $1.8 million), the telepathic search engine sifts through online media and spits out tracks based on user interests.



Funny or Die

Will Ferrell
The big-screen comedy heavyweight and former SNL star made the move back to the small screen on HBO's Funny or Die Presents, courtesy of his co-owned online multimedia community of the same name. The content conglomerate, seeded by Sequoia Capital, features original material by comedic bigwigs (Adam McKay and Zach Galifianakis included) and encourages viewers to contribute their own creations. An undisclosed investor chipped in $2 million in December 2008.

CafeMom

Andrew Shue
The former Melrose Place hunk tapped into his female fan base when creating this matronly social networking site in 2006. It now boasts 2 million registered users. Shue and two other investors own 100% of the equity. The site recently began partnering with Good Morning America to report the "MomIndex," which measures the well-being of American moms.

ShoeDazzle

Kim Kardashian
For a low monthly fee, this fashion-friendly website promises the personal styling perks of the, er, well-heeled plus a choice of one featured item (shoes, handbag or jewelry) per month. ShoeDazzle received $7 million to kick things off in 2009 and a second round of $13 million this year from Lightspeed and Polaris Venture Partners.

Gwyneth Paltrow

GOOP
What girl wouldn't want fashion and lifestyle advice from a rock-star-marrying, miracle-cleanse-touting, Oscar-winning cover girl? That's just what the ultra A-list actress had in mind when she launched well-being site GOOP.com in fall 2008. Paltrow's chic and minimalist site skips daintily from recommendations for diet and exercise, to musings on religion and retail. While detractors cite the thinness of the advice, some 150,000 subscribers have signed up to live life Gwyneth-style.




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Keep Your CEO Out Of Grad School

NEW YORK - Think formal education helps in business? Think again. Chief executives who went to graduate school don't seem to make any more money for their shareholders than those with no advanced degree. M.B.A.s may actually do worse than those with no advanced degree, although they fare better than lawyers. 


Ignorance Pays
Type Of DegreeNumber Of CEOs*Median Total Return
No Advanced Degree16316.0%
Doctorate2415.5
Master's Degree3715.3
M.B.A.16515.2
Law Degree5113.9
*Includes Forbes 500s CEOs for whom all data is available. Only degrees with 20 or more CEOs are counted. Median total return to shareholders is annualized over the CEOs' tenure. Source: FT Interactive via FactSet Research Systems
Formal education does count for something. M.B.A.s turn up as chief executives more often than people with no advanced degree at all, and 50% more often than executives with law degrees, master's degrees and doctorates combined. Harvard M.B.A.s have a particular knack for becoming chief executives: 38 of them are CEOs of some of America's biggest companies. Unfortunately, that doesn't seem to help their shareholders much. 

Of the 440 CEOs on this year's Forbes 500s list of America's top companies for whom complete data was available, 38% have a master's of business administration degree. But the M.B.A.s did slightly worse than those with other types of master's degrees or doctorates. The 163 CEOs who had no advanced degree outperformed those who did. 

Harvard Should Be Crimson
Business SchoolNumber Of CEOs*Median Total Return
University of Chicago524.0%
University of Pennsylvania722.9
Stanford University1120.6
Northwestern University820.0
Harvard University3810.6
Columbia University113.5
*Includes Forbes 500s CEOs for whom all data is available. Table includes schools that produced five or more CEOs. Median total return to shareholders is annualized over the CEOs' tenure. Source: FT Interactive via FactSet Research Systems
We knew that CEOs such as Dane Miller, the engineering Ph.D. who heads orthopedic products company Biomet (nyse: BMET - news -people ), Arthur Levinson of Genentech (nyse: DNA - news people ) and Irwin Jacobs of Qualcomm (nasdaq: QCOM - news people ) did well in fields in which they have considerable expertise. But who would have thought that Harvard M.B.A.s--who are nearly twice as numerous as those with doctorates at the top spots of America's largest companies--would have been bested by the eggheads? 

Based on this data, it would appear that business schools might be doing a disservice to companies that hire their graduates. A Harvard M.B.A. may make it easier for someone to win a CEO slot, but it is not clear that it will make him a good chief executive. In contrast, executives with no advanced degree must work their way up through a hierarchy that is red in tooth and claw. This Darwinian process probably does better at weeding out good CEOs from bad than any M.B.A. program ever could. 


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Monday, 4 October 2010

Ten horrifying display ad placements


At a recent roundtable event held by ValueClick Media, a topic that came up briefly was that of the danger of using blind networks to advertise, as this can result in display ads appearing alongside content that can be contradictory - or even damaging - to the brand or product.
Although this wasn’t the topic of the table, which was focused primarily upon the convergence and optimisation of online advertising, it got me thinking about the examples I’ve seen floating around the internet where poor placement has resulted in a cringeworthy visual. (Judging by where the majority of these ads have been seen, advertising on news sites can be a risky business...)
By my own admission, some of the examples I’ve pulled out have been around for a bit, and all are terribly tongue-in-cheek. So consider this a warning: If easily offended, don’t read any further. For those who can appreciate a bit of black humour and can understand the importance of carefully planned and placed media, read on.

1. Want to grill like an expert?


2. Hooray for beer!


3. Free dinner for two


4. Samsung blast


5. We've got you under our wing


6. Toyota


7. Dad, what would happen...


8. Evian


9. Point. Shoot. Wow.


10. Win a mini-break in gorgeous Greece...

Jake Hird is a Senior Research Analyst for Econsultancy. Follow him on Twitter, connect with him on LinkedIn or see what he's keeping an eye on via Retaggr.


Courtesy of E-Consultancy 

http://SocialBusinessToday.net - The Best in Social Business

Is Our Addiction to ROI Killing Social Media?

I had an interesting phone call with a prospective client. I didn’t know him, and hadn’t worked with his (large) company. He was looking for a social media vendor, and was referred to me by a mutual contact who had attended one of my training workshops. In that workshop, we discussed social media ROI realities.
Our mutual friend has apparently emphasized the importance of well defined, realistic, ROI. And his belief that if an agency couldn’t provide that, then they weren’t any good. Sounds reasonable, right? Not so fast.
Social Media ROI AddictionThe reason this prospective client was calling me was because the firms he had shortlisted did *not* have explicit ROI objectives, and he was now terrified since he believed he was dealing with snake oil salesmen. I had him remove any identifying traits from the proposals, and send the summaries to me along with his explanation of what objectives he had given the agencies.
He was right, none of the proposals had included specific ROI objectives. But overall, they were sound. Given his objectives, which were wide ranging, they didn’t look very different from something I would have written, and I told him so. The key is that while these proposals may not have spelled ROI objectives per se, they *did* focus on making sure that the activities that could be measured were being measured.
Sometimes social media measurements can be tied directly to financial transactions, but sometimes they can’t. And that’s not always the fault of the agency, but the nature of what the client can measure, and what they commit to measure.

Social Media ROI is Always Doable. It’s Not Always Practical

What do I mean? Let’s take a customer service activity, how do I *directly* measure the ROI of helping a customer? What about activities designed to increase brand recognition? Brand perception? Secondary lift? One of the proposals sought ROI by setting a financial baseline today, and then reviewing sales growth over an extended period of time matched against the activities taking place in that time period. Of course, that is not true ROI, which requires an actual, definable “return”. Tracking overall sales growth and plotting activities alongside can demonstrate correlation, but not causation. And in many cases, that’s all you can do.
At some point you have to be able to say that this ‘program’ (which can contain as few or as many activities as you like) is beneficial, even if you can’t explicitly measure all of the data points that took place within that program. True, you can absolutely measure ROI precisely if you want to badly enough. But when does it become too much trouble? If you’re spending more time counting than you are doing, has your ROI focus run amok?
You measure what you can measure with a reasonable level of effort, and then you try and make as much sense out of it as you can. That’s the way it’s worked in marketing forever, and social media isn’t any different.
This overwhelming ROI focus is tough for agencies because it’s rare that a client actually provides an agency everything they would need to produce an accurate ROI. Are they prepared to hand over salaries of those people who interacted with the project? Internal materials costs? Profit margin per product? Many of those financials, which the enterprise considers ‘fixed costs’ are necessary data points if you’re going to *truly* calculate ROI.
The “investment” portion of ROI is often much trickier to figure than the reward, and most of the time the company itself isn’t keeping track of data that’s granular – much less giving those numbers to their agency.

Social Media ROI is About Defense, Not Offense

What a client really wants is a way to say semi-definitively that the decisions they have made were worthwhile. Social media ROI is about defense, not offense. You should measure as specifically and rigorously as you can, but the inability to precisely measure ROI shouldn’t be an obstacle to social participation, and too many companies are using “we don’t know the ROI” as a smokescreen for their fear of openness.
Any project needs to be able to “prove its worth”. If it can do that with a high enough degree of certainty for an executive to make decisions, then isn’t that okay? Maybe instead of me ranting about social media ROI for all this time I should have just been saying that all along.
Because sometimes, that’s enough.

Coutesy of Social Media Today

Guest post by Matt Ridings, founder of MSR Consulting, a Digital Relationship Marketing Agency in St. Louis. He’s @techguerilla on Twitter.

http://SocialBusinessToday.net - The Best in Social Business

Friday, 1 October 2010

Why Advertising And Social Media Need Each Other

Good advertising is a driver for conversation, tells a story, and elicits strong reactions – whether it makes you laugh or it just gets your attention. With the rise of social media, there was a shift away from good advertising, and a focus turned towards user generated content (UGC), and placing the creation of brand engagement assets into the hands of consumers. Can UGC make good advertising? In some cases it can be. We all remember how exciting the Diet Coke and Mentos video was to watch, and with 12.5 million YouTube views and however many media segments that aired on broadcast news talking about the video – this was a paradigm shift in 2006. A piece of content created by someone other than the brand can create awareness while saving millions of dollars in production and media buying costs for the marketer. But we all know that this is like winning the marketing lottery. How many times in the last four years have agencies been approached by brands to create the low-cost viral video meant to be the next YouTube hit?
Last week I was talking with a mentor of mine, and we were agreeing on how the tide seems to be changing back. I think there is no substitute for the creative that originates from the mind of an imaginative professional trained in unfolding 30-second TV spots that entertain, or beautifully executed online video ad units that draw you into the exploration of a product.
From my perspective, the story behind “I’d Like to Buy The World a Coke” is the story of what true creative professionals – in touch with the world around them, can create. Again, telling a story, eliciting strong reactions and driving conversation. Take that example, and consider what the possibilities are today for a spot like that to yield high brand engagement in social media? It’s about people and bringing them together with something good. Sure, one might argue that it has high-fructose corn syrup and how can it be good?. But what it does – product or not – is it connects people on an emotional-level, and regardless of medium, people want to connect to each other in this way.
In some ways, we can say that Old Spice Guy is the mark of an advertising renaissance; with 20 million YouTube views and how many more impressions from TV placements, in addition to the hundreds of consumer responses to the ad. This is why advertising and social media need each other: It’s the sweet spot where brand and consumer have fun together with the value proposition while engaging each other in playful ways; having a cultural dialog. It’s not to say that now there is a new formula and as marketers, it’s time to run out and mimic this case. But what it stands for is the potential for brands to take advantage of the talented industry of creative professionals coupled with the technology and an audience that is open to engagement in new and interesting ways; halleluiah, we’re still in business and good advertising has a home on the social Web.
Now if we could only bring  jingles back… because frankly, “Weebles Wobble but they don’t Fall Down” still resonated in my mind nearly 30-something years later, when I bought Weebles for my daughter a few weeks ago. Now that is ROI.
What’s your favorite advertising spot?

Courtesy of Tac Anderson
http://www.newcommbiz.com/

http://SocialBusinessToday.net - The Best in Social Business

9 Ways To Build A Community On Twitter, With Substance

Ah, Twitter. I keep seeing all these people saying “Yay! 1,000 followers!”. And then I get sad, because I think they’re really missing the point. Connecting with people is great, but don’t you want to connect with people who will enrich your experience overall?
Everyone uses Twitter differently and I get that. But I know what’s worked for me. Much of it hasn’t been deliberate or engineered, it’s just what makes natural sense to me. But in case there’s a tip or two in here, I agreed to post about my thoughts on building community on Twitter. Here’s my take.

1. Start With Twitter Search.

Go to search.twitter.com and type in a word or phrase that represents something you’re interested in. Try something like “I’m reading” to home in on people sharing the books they’re reading. Or how about “foodie” to find other culinarily-minded folks? Be creative. Try a bunch of different words. Then follow people who are talking about subjects and areas of interest for you.
Oh, and emphasis on talking; if they’re just dropping links and rarely carry on conversation with anyone, you aren’t going to get much out of the interaction and you’ll end up disappointed.
Go ahead and follow some of the usual suspects if you like, or find “recommended” follows from Twitter, but I’m much more of a fan of finding the like minds than the notable ones. They’re harder to find, but can really be the lifeblood of a great community. Many of my favorite Twitter friends aren’t on the big radar screens (and I hope they never are, lest I have to stand in line to talk to them!).

2. Tweet, even if no one’s watching

When people visit your profile page to decide whether or not to connect with you, what you have there gives them some dimension and perspective, even if only a few people are officially “following” you. Oh, and don’t forget to put up an avatar (of your face please, not a logo, my .02) and fill in the bio stuff. People notice, and it makes you instantly feel and seem like a real human who’s on Twitter to get to know people. That’ll attract like minds to give you a chance.

3. Look at other people’s lists.

Once you find a handful of people that you enjoy following, check out their lists. See who they follow. Look on their profile page and see who they’re replying to. Follow a few more people that look interesting, conversational, and engaged. You don’t want to mass follow hundreds – Twitter will suspect you’re a spam artist – but get started with 20 or 30 and get chatting. Already have a solid following? You need step 4.

4. Jump into conversations that look interesting.

The way Twitter gets good: you have to talk with people. The way to talk with people is to start interacting with them. If there’s an interesting or fun discussion going on, jump in! @ reply someone that you’ve never chatted with before and offer a contribution or a funny. Sometimes you’ll get ignored; that’s part of the deal, I’m afraid. But often times, folks on Twitter are very open, conversational, and eager to meet new people. This is public discourse, not a private chatroom. Consider yourself welcome.
There are tons of Twitter chats that happen regularly; find one in an area that interests you and jump in. They’re fast moving, but you’ll undoubtedly meet people and make some connections.
By the way, I’d hope it goes without saying, but “jumping in” doesn’t mean “hey I saw you tweeting about lawnmowers and I wanted you to see my new website! Check it out!”. That’s just irritating. If you don’t recognize that or see why people would find that annoying, your problem is more complicated than Twitter.

5. Lose your obsession over who’s following and who isnt.

A long while back, I talked about the fallacy of tools like Qwitter (those that tell you who stopped following you). There are some different perspectives in the comments, but overall I don’t recommend you waste too much time and energy over that part. It’s just a follow. A click. Not some demonstration of your worth as a human being. Twitter also does a good job of automatically and misguidedly unfollowing people when they clean out spam and such, which means some unfollows are totally unintentional.
I never, ever notice or pay attention to who unfollows me. I focus on participating in the community that wants to be there. If someone valuable goes away, I’ll notice and track them back down.
As for how many followers you have, remember these things. Twitter has a massive abandon rate, which means that many people will follow you and never return, never say a word, never see a thing you post. Twitter is also thick with spammers and auto-follow bots, so a good chunk of any of our follower counts are made up of complete garbage.
The numbers are inflated. They’re inaccurate. And while reach can be important depending on your goals for participation on Twitter, relevant reach is what matters, and that is only ever built with time and concerted participation.

6. Think farming.

Jay Baer wrote a good post about how social media is like farming. Twitter is very similar. The problem is that too few people have the patience to be a farmer. Cultivating the seeds of relationships and trust takes time. And you can’t shortcut it; if you don’t sow the seeds at the beginning of the year and tend to them properly, you’ll have nothing to harvest at the end of the season.
And there’s no last-minute shortcut that will fix that. You can’t just throw $99 at it and buy a field of crops to harvest, much less one that will support a crop the following year. Try to treat Twitter followers like bargains on a WalMart shelf, and that’s exactly the quality of the network you’ll end up with.

7. Don’t namedrop.

You don’t need to fish the pools of the “popular” to get people to notice you. Calling out celebrities or the Twitterati to bait them into some kind of conversation or to look at your blog isn’t going to do you much good. Bragging about the recognizable people you know or talk to or just had coffee with can easily come off as very (very) thinly veiled self-importance. Be gracious. Be humble. Be real and genuine. Focus on making real connections with real people, no matter who they are.
It’s easy to tell the difference between someone who really has their head in the game, and someone who’s just trying to get people to notice them. Really. We can tell.

8. Share stuff.

Some of my favorite follows on Twitter are people who mix up conversational updates and back-and-forth with others with links to great stuff. Sometimes it’s a thought provoking blog post. Other times it’s an article, or a video, or something just to make me laugh.
Twitter is like this micro library of stuff wandering around for the finding. Share the stuff you find (in moderation). Being a resource to others is a great way to find common ground to talk about, kick around ideas, or open up new dialogue.

9. Have some personality.

The reason things like chat have always been so popular is because you can talk with real, live people over a computer. How cool is that! No crazy phone bills, you can talk to several people at once, and it’s fun to pick out the individual personalities, find the people who like the things you do, talk away about everything from work to life to the movie you just saw and hated.
Twitter is just the new version of chat. We didn’t want people in our AOL chat rooms selling us their “Make Money Online” course, either. With exception I’m sure, we don’t love them in our Twitter stream. We just want to talk and get to know one another. Open doors. Find affinities. It’s really pretty simple at its core, but man do we try to make it way too complicated.

In Conclusion…

I get asked all the time how I “got all my followers”. I didn’t set out to amass a pile of people, but I set out to build a diverse, active network. In that sense, my secrets are these:
  • I did all the stuff above. Some I realized I was doing later.
  • I’ve never in my life asked for a follow unless I wanted to DM someone and couldn’t. I’ve NEVER begged for followers to reach some kind of “milestone”. It doesn’t matter.
  • I converse a lot, and I make it a point to be as responsive as I can. Look at my Twitter page, and you’ll see that the vast majority of my posts are replies to other people.
  • I share my own posts about twice a day if I think they’re worth it. I share bunches of stuff from other people that I find interesting, informative, funny. But I’m not a link feed, either.
  • I’ve been doing this for over two and a half years, nearly every day. I’m present. I participate.
  • I try to be conversational, responsive, engaged, and polite. The same way I’d want people to be with me.
  • I started with zero followers, too.
That’s just my method. It seems so simple and obvious to me, but maybe it’s not.
Remember: Twitter is just the medium. These same principles apply across many things, online and off. It all –always - comes down to your honest intent to build a network of people to talk to, to learn from, to share with. ALL of this depends on your desire to use Twitter that way, and not just to amass a collection of people that you can pimp your junk to. Twitter can be a gateway to a much more dimensional relationship with people, or it can just be a means to a rather disappointing end.
Whether you have the patience, time, and desire to invest in it is really up to you.
Does that help? What would you add? What’s worked for you, and where are you still struggling? Let me know how I can help some more in the comments.




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Kingmaker Location Based App Launch


Here’s an exciting tidbit: Fable 3 is getting an official smartphone app tie-in.

Fable 3 Kingmaker is out on Friday (October 1) and headed for an as-yet undefined array of mobiles. We’d expect a Windows Phone 7 version with Lionhead Studios being a Microsoft subsidiary but whether it’ll hit iPhone or Android is unclear.

The description of Fable 3 Kingmaker suggest a Foursquare-style location based app. It’ll task you with planting virtual flags for the Royals or the Rebels and offer power-ups for different UK locations.

The flags and power ups you pick up will earn you gold coins which you’ll be able to transfer to Fable 3. Sounds like that Windows Phone 7 Xbox Live integration in action.

Are you itching to get your hands on Fable 3? Share your excitement in the comments!
Out October 1 | £TBC | Fable 3 Kingmaker (via CVG)


Courtesy of ElectricPig.co.uk

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